Spirit AeroSystems [NYSE: SPR] has signed an agreement in principle with Cessna Aircraft Company, a Textron Inc. [NYSE: TXT] company, to produce the fuselage and empennage for its new Citation Columbus business jet. Spirit has decades of experience in designing and building some of the world's most popular commercial aircraft.

"We are excited about joining the Cessna team and helping bring this new business jet to market. This project allows us to take the innovative design/build processes we've honed on commercial aircraft and apply them to an entirely new market, bringing value to our customer and ultimately, to the consumer," said Richard "Buck" Buchanan, Vice President/General Manager of Spirit's Fuselage Business Unit.

Spirit has been participating on the Joint Development phase of the program and has had a team co-located with Cessna for several months. Detailed negotiations between Spirit and Cessna are expected to culminate in a contract signing in the next several weeks.

"Cessna is committed to maintaining the highest quality and best value with all of our products and that's certainly the case with this new large cabin offering. Wichita is known as the air capital of the world and it is wonderful that we have such expertise and experience based literally in our backyard," said Jack Pelton, Cessna CEO.

The Citation Columbus is expected to be the only aircraft in its class capable of 4,000 nautical miles (7,408 kilometers) non-stop at Mach .80. The initial price estimate for the Citation Columbus is $27 million in 2008 U.S. dollars. Cessna plans to achieve Federal Aviation Administration certification by the end of 2013, with deliveries beginning in 2014.

About Spirit AeroSystems Inc.

Based in Wichita, Kan., Spirit AeroSystems is the world's largest independent supplier of commercial airplane assemblies and components. In addition to its Kansas facility, Spirit has operations in Tulsa and McAlester, Okla., Prestwick, Scotland, and Samlesbury, England.

In the U.S., Spirit designs and produces large components for every Boeing commercial product currently in production. The company's core products include fuselages, pylons, nacelles and wing components. Spirit designs and builds the all-composite forward fuselage for the Boeing 787, in addition to pylon and wing structures for the new airplane. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America and Europe. Spirit also designs and builds structures for military programs, including the CH-53K helicopter, the U.S. Navy's P-8A program, and is a member of Boeing's KC-767 Global Advanced Tanker Team. Spirit Europe produces wing components for Boeing, Airbus and Hawker programs.